Hawaii Again Tops in Millionaires Per Capita

RHINEBECK, N.Y., Sept. 29 /PRNewswire/ -- The Phoenix Affluent Marketing Service, a Phoenix Marketing International practice, today released their annual ranking of millionaires per capita by state. The Phoenix data shows that Hawaii again has the greatest percentage of millionaires when compared to their overall population.

Phoenix's annual market sizing analysis and aggregate wealth rankings shows that approximately 6.9% of Hawaii's households are millionaires, leading the nation for the third year in a row. Phoenix defines a millionaire household as one with $1 million or more in investable or liquid assets (excluding sponsored retirement plans and real estate). Rounding out the top five states in millionaires per population are Maryland (6.8%), New Jersey (6.7%), and Connecticut (6.7%). These states have maintained their order of ranking since 2008.

Among the other top ten states ranked by millionaires per capita, Massachusetts and Alaska each moved up one place in ranking in 2010, while Virginia fell two places. Among other states, of particular note, the deep economic slump in Nevada took its toll on their millionaire ranking, which fell four places in 2010 (from 14th in 2009 to 18th in 2010).

"It is remarkable that the same four states have topped our millionaires ranking for three years running," says David Thompson, Managing Director of the Phoenix Affluent Market. "However, Hawaii, Maryland, New Jersey, and Connecticut all share some important distinctions: they are small states with large concentrations of highly educated professionals and business owners which are key ingredients to growing wealth," notes Thompson.

The Phoenix data also shows that, after two years of declines, the number of millionaires in the U.S. grew by 8% in 2010, numbering some 5.6 million households.

Founded in 1999, Phoenix Marketing International is one of the fastest growing marketing services firms in the United States, with offices across the country and partnerships with many of the largest companies in the financial services, pharma, automotive, healthcare, and travel and leisure industries worldwide.